Vimal Fogla, who holds the Raymond franchise in Ranchi, belongs to a business family led by his mother, Santosh Devi Fogla. In this interview, he narrates his journey and achievements with the brand
How has been your overall experience with Raymond?
How has Raymond helped you differentiate from the competition in your region?
Raymond being a well known men’s fashion brand with deep connect among all age groups, it has helped us to grow faster than we expected in our region. Besides having an excellent brand recall among the consumers, Raymond has always been proactive in analysing fashion trends and launching fabrics and apparels as per the latest trends. It also has a strong marketing and promotion team which comes handy when it comes to brand mobilisation at the local level. In addition, no other brand stands in comparison to Raymond’s robust supply chain management. Above all, Raymond’s product quality is its forte where it never fails on customer expectations.
What are your expansion plans with Raymond?
Over the last few years, we have deepened our relations with Raymond. We became an authorised Raymond Tailoring Hub partner in 2017 to grab a large opportunity in the fabric stitching space. It is a tremendous business model with margins in the range of 30%. In fact, with exceptional response from the market, we have been able to increase our revenues from Raymond Tailoring Hub from just Rs 40 lakhs in 2017 to over Rs 1 crore in 2018. While the revenues might appear low, the margins are impressive. We have engaged 35 staff in the stitching business and have been recognised with Best HR Practices Award by Raymond in 2018. Further, we are in the process of opening a new Raymond shop at another location in Ranchi. It will be functional in March 2019.
What advice would you offer to aspiring franchisees?
Since Raymond is world-renowned brand with excellent brand recall, any franchisee coming into the brand’s fold is able to grab maximum market share of fabric and apparels within a short span of time. The roots of Raymond as a brand are strong enough so that for any new franchisee it is like, more you work, more you get. Moreover, Raymond does not treat franchisees as associates, but as a part of their company. In fact, a sense of ownership comes with the brand.
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